We started Peakon on a simple premise; in a world where most people spend the majority of their lives at work — but at the same time dislike their jobs — one of the most meaningful contributions we could make to society was to help work work for all people.
As founders — having seen the digital transformation of the workplace firsthand — we felt we could help solve this problem with a product that gave every employee the opportunity to provide regular feedback about their employee experience. This platform would use machine learning to turn that feedback into real-time insights, and then distribute those insights across an organisation to drive the change that employees actually wanted to see.
The result would be an organisation that worked to make its people successful first, and in turn, would reap the benefits and become more successful itself.
That platform became Peakon Engage, our employee engagement solution, that has since been adopted by over 1000 organisations including Capgemini, Verizon, easyJet.
Since its inception, Peakon Engage has collected almost 100m employee responses and 20m employee comments — the largest and most powerful dataset of its kind in the world. This data allowed us to develop unique features such as True Benchmark, and unique insights such as those presented in our Heartbeat reports.
However, we’ve known since day one that Engage is only one part of helping organisations create truly people-forward cultures.
While Engage enables upwards feedback, from employees to managers and beyond, it does not enable downwards feedback, or sideways feedback from peer-to-peer. Until now, we chose to put that problem to one side to focus on making Engage the best employee engagement platform on the market. Five years in, we are confident that we achieved that goal, and so are many customers and analysts — Engage has a class-leading NPS of 57, and it’s a product we are hugely proud of.
We now have the position and the resources to solve the other key part of the feedback puzzle — performance feedback.
We aren’t the first to market, and we certainly won’t be the last, but we believe there are fundamental ways performance feedback is currently broken. We are confident we can give it the attention and investment it deserves to transform the practice in the same way Engage transformed employee engagement.
Employees don’t want to be “performance managed”, they don’t want to be stack-ranked, and they certainly don’t want to only get feedback once a year. Employees want regular communication — that is forward-looking and development-oriented — from the people who understand their strengths and areas for improvement the best.
Employees want careers, not jobs, and they want feedback connected to development plans and learning. This is key to making employees successful in today’s world.
For the last few months we have been working on a new product that fulfills these needs; Peakon Grow.
Grow will be the first performance feedback product to build a link between performance and development — and drive stronger engagement, retention and growth.
Grow will be a forward-looking solution that employees can use to drive their own success — leading to higher levels of individual and organisational performance.
We are incredibly excited to be adding Grow to the Peakon product offering soon.
It’s currently in Beta – stay tuned for more.